Each week, we round-up the best comments, emails and letters to the site and pick one reader contribution as our Star Letter. This week’s award goes to:

How can we free the mortgage prisoners? – Nationwide

I think there is a very simple solution to resolve the issue for mortgage prisoners.

Those who purchased their houses with a 100% mortgage, on interest-only and now find themselves in negative equity could be given an incentive to go onto a repayment method. If the bank charges them say 2% (instead of SVR), the repayment amount would be similar to what they are paying interest-only, so this would make it affordable.

This would be set up for a fixed period (5 years) and would allow clients to build equity in their home, making it possible to move home in the future. Sure, the bank would take a hit on their profits short-term but it was due to careless lending and poor advice there are so many people in this situation!

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Chris Barker

17 Jan 2013 | 15:02

You can read more of this week’s best reader comments in our Star Letter Extra column HERE.